The size of the deals it's backing has also more than 2x’d since 2022. At the median:
2022: $27M
2023: $77M
2024 YTD: $66M
The vast majority of startups Nvidia has invested in so far this year are already deploying or scaling their products in the market, as highlighted by CB Insights commercial maturity scores.
Translation: it's not investing in very early-stage companies.
Nvidia is betting on rising private companies to provide continued growth for its chips.
The industrial opportunity
Its 4 latest deals have gone to companies in “hard tech”:
Freeform (Series B) — metal 3D printing using computer vision to improve quality
Orbital Materials (Series A) — AI-powered advanced materials discovery
Carbon Robotics (Series D) — autonomous farming robots for weeding
In our June 2024 strategy map, we identified the industrial sector as a strong market opportunity for Nvidia.
Its partnership and investment activity highlights a focus on industrial applications that require large datasets and advanced simulations — like digital twins and robotics.
Acquisition activity
Outside of investments, Nvidia’s acquisitions show a pattern: the company is looking to make using its pricey chips more cost-effective and efficient.
It’s picked up 3 companies so far this year focused on optimizing AI workloads:
OctoAI (September 2024)
Run:ai (April 2024)
Deci AI (April 2024)
CentML (backed by Nvidia a year ago), which is also in the optimization market, could be an upcoming target for Nvidia.
Driving the AI ecosystem
Running intensive AI applications requires specialized processors — a market Nvidia dominates with up to an estimated 95% market share.
In turn, many of the startups the chipmaker has invested in are using Nvidia’s chips. For example, Carbon Robotics uses Nvidia GPUs to power its laser-weeding robot.
Amid the AI computing boom, Nvidia is inserting itself deeper into the AI ecosystem.
Dave Copperfield: The FTC has sued fintech lender Dave, alleging it misled users with hidden fees and confusing cash-advance terms. The suit follows similar regulatory action against cash-advance app FloatMe, signaling increased scrutiny on fintechs promising quick relief to borrowers.
Show us your skills: Last week on X, user @levelsio criticized Google Gemini’s complicated sign-up process for developers, saying it was much harder to integrate than Elon Musk’s xAI. Google engineer Zachary Nado clapped back (in a now-deleted tweet), replying it was a "skill issue.” The criticism comes as Google battles to gain ground against OpenAI and Anthropic, both of which enjoy word-of-mouth loyalty among developers.
Ransom: The CEO of crypto company WonderFi Dean Skurka was kidnapped in downtown Toronto during rush hour, with captors demanding a $1M ransom. He was released after paying it digitally.
Mad professor: AI tools like ChatGPT now contribute up to an estimated 17% of sentences in computer science peer reviews — often with shallow, generic feedback. Stanford researcher James Zou called on journals to set clear limits on AI’s role to improve quality.
What’s in a name?: OpenAI CEO Sam Altman revealed chat.com, which redirects to ChatGPT. He quietly snagged it from HubSpot’s Dharmesh Shah, who bought it for $15.5M earlier in 2023. Shah hints OpenAI paid him in shares, not cash — proof that pricey “vanity domains” are still the ultimate status symbol.
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